Smith & Nephew SNATS (NYSE:SNN) Upgraded by Zacks Research to “Hold” Rating

Smith & Nephew SNATS (NYSE:SNN) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Tuesday, Zacks reports.

A number of other research firms also recently issued reports on SNN. Canaccord Genuity Group dropped their price objective on shares of Smith & Nephew SNATS from $32.00 to $30.00 and set a “hold” rating for the company in a report on Monday, May 11th. Morgan Stanley cut Smith & Nephew SNATS from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, September 2nd. Bank of America cut Smith & Nephew SNATS from a “buy” rating to a “neutral” rating in a research note on Tuesday. JPMorgan Chase & Co. restated a “neutral” rating on shares of Smith & Nephew SNATS in a research report on Thursday, August 6th. Finally, Wall Street Zen lowered Smith & Nephew SNATS from a “buy” rating to a “hold” rating in a research note on Saturday, September 5th. One investment analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $30.93.

Smith & Nephew SNATS Trading Down 0.4%

SNN stock opened at $27.77 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.14 and a quick ratio of 1.11. Smith & Nephew SNATS has a one year low of $27.56 and a one year high of $38.59. The firm has a 50 day simple moving average of $30.04 and a two-hundred day simple moving average of $31.25.

Hedge Funds Weigh In On Smith & Nephew SNATS

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in Smith & Nephew SNATS in the second quarter worth $505,323,000. River Road Asset Management LLC grew its stake in shares of Smith & Nephew SNATS by 13.8% during the fourth quarter. River Road Asset Management LLC now owns 3,169,644 shares of the medical equipment provider’s stock valued at $103,996,000 after buying an additional 384,926 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Smith & Nephew SNATS by 5.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,053,726 shares of the medical equipment provider’s stock valued at $67,383,000 after buying an additional 100,697 shares during the last quarter. Bank of America Corp DE purchased a new position in shares of Smith & Nephew SNATS in the second quarter worth about $97,223,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Smith & Nephew SNATS in the second quarter worth about $89,325,000. Hedge funds and other institutional investors own 25.64% of the company’s stock.

Smith & Nephew SNATS Company Profile

Smith & Nephew plc is a global medical technology company specializing in the design, development and manufacture of advanced surgical devices, orthopaedic reconstruction implants, trauma and extremities products, sports medicine solutions and wound care therapies. Founded in 1856 in Hull, United Kingdom, the company has grown through both organic innovation and strategic acquisitions to offer a broad portfolio that addresses patient needs across joint replacement, minimally invasive surgery and wound healing.

In its orthopaedics business, Smith & Nephew provides hip and knee replacement systems, modular joint revision implants and biologic solutions for bone repair.